THE STOCK MARKET IS ABOUT TO EXPLODE NEXT WEEK

[00:00:00] Speaker 1: The markets make a brand new all-time highs with the S&P 500 leading the markets higher. We have a bunch of megs, seven names that have bounced nicely within the past few weeks. Welcome back to another weekly outlook where we go over exactly what we're looking for coming into next week. There's a bunch of things to talk about. We'll recap what we want over this week. We'll talk about the updated trading P&L and we'll talk about some of the setups that I like the best coming into next week. With that being said, before we get started, make sure to drop a like and sub. I'll talk about the favorite watches at the end of the video, so make sure you stick around. And with that being said, let's head straight into the charts starting off with my P&L, of course. This month so far has been absolutely fantastic. We've had some very nice trading opportunities of $33,000 this month. Been an absolutely fantastic week. No complaints on my end. Took Tesla on Monday. The big trade was yesterday on Palantir towards the upside. Hopefully some of you guys were able to capture some of the trades that I outlined on the pre-market prep. And then, of course, ending off the week with $33,000. Let's take a look at some of the notable trades that we took last week. Number one was Tesla on Monday, August the 3rd. These three 20 calls right off our previous day highs went up super nicely. As you can see, we had that textbook previous day high retest here earlier into the week. Went in for that previous day highs for, of course, continuation towards the upside. And then, of course, these are some concepts that I teach on my main channel and right here as well. Some other trades that we took was Palantir Friday, August the 7th. One of the best trades of the month. As you can see, the zero-day contracts went from around roughly a dollar a contract to over $6.50. And this was a classic five-minute range high retest. We had another key technical level here as well. Another setup that we talk about. We had a higher timeframe thesis on this one as well. And you can see really solid five-minute range high retest. Buyers stepped in. And really no sign of weakness all up and towards that 170. So that was the best trade of the month so far. That was on Friday, which was yesterday. And with that being said, let's take a look at some of the things that we're looking for coming into this week, starting off with the economic calendar. As you can see right here, we have no red folder news Monday, Tuesday. The main thing that we're gonna keep an eye out on is core CPI month over month, year over year. That's gonna be on Wednesday at 8.30 a.m. Eastern Standard Time. Followed up by core PPI on Thursday at 8.30 as well, along with the unemployment claims. And then on Friday, we have the core retail sales. That's gonna be at 10, or sorry, that's gonna be at 8.30. And then at 10 a.m., we have the prelim consumer sentiment. So action-packed this week, of course, with CPI along with PPI. So as for the major earnings that we have released, on Monday, we have Berkshire Hathaway, some things in the after hours, Rocket Labs, ASTS. A couple other ones later into the week, we have a couple semiconductors to keep an eye out for, SMCI, CoreWeave is something to keep an eye out for, Lite, L-I-T-E. We have Firefly, another big one here. And then on Wednesday, MBIS. That's another one that a lot of you guys are trading. Cisco, after close. And that's really about it. You have a couple other ones on Thursday and Friday, but these are the notable ones to keep an eye out for coming into this week. Last week, we had SNDK along with WDC earnings. Plus, we had other couple notable names like AMD earlier into the week. So with that being said, let's hop straight into the charts now to see exactly what we're looking for coming into this week. So as you can see right here, we're on the weekly timeframe. As you can see, the SPY made a brand new all-time highs last week after consolidating for the better part of the past two months. As you can see, the QQQ is bouncing off a key technical level, has not made a brand new all-time highs, but really strong candle closed last week. The SMH buyers stepped in right off our key technical level, closed above our last week's candle high here as well. So you can definitely see the SPY is leading the markets back towards the upside and we are making a brand new all-time highs. So with that being said, if we're looking at it on a week-by-week basis, we basically broke above this whole period of consolidation with a very strong candle close. If you go onto the daily chart, really strong buyers that stepped in last week. We finally broke outside of the consolidation that we've had and now you can see we're at our all-time highs. So we're bullish on the weekly, bullish on the daily, structure's very much intact. We're just gonna be looking for a continuation in the overall markets coming into next week. What are some of the key levels that I have marked out? The main levels that I have marked out coming into next week is gonna be the 773 right off the bat. Above 773, push up in towards our all-time highs and above. So moving forward, we're just gonna maintain a bullish bias here in the markets after last week's breakout for continuation towards the upside. If you go onto the QQQ, what are some of the levels that we have marked out as well? You can see for the Qs, we end up coming back down into a key level of support. We broke underneath it, but the weekly timeframe actually closed above. We bounced on the higher timeframe level of resistance that turned into support on the NQ. You can see we end up retesting this 27,000 here perfectly. And now you can see buyers are stepping in aggressively off this area. And for the Qs, now we just wanna see that push back up in towards our all-time highs. So if we're on the daily chart here, after the reclaim last week, back above that 690, you can see higher lows are now being built. The break above that 730 is gonna be key for that next leg towards that all-time highs here on the QQQ. If you go onto the lower timeframes, the exact key levels that we have marked out is gonna be that 725. We rejected here earlier into the week. If we can now break above this area, hold, then we can see that next level up and towards that 730 and above. So that's what I have on the major indices coming into next week. If we talk about the SMH, if we're taking a look at this on the weekly timeframe, you can see for the SMH, we've had a pullback since June. And this is the first sign of buyers stepping in. If we're looking at this on a week-by-week bar, we close above our previous week's candle with a strong candle close. And now we're on the daily timeframe. You can see higher lows are being built. For SMH, we're not out of the clear yet, but if we can break above this 580, that's gonna give me conviction for a move back up and towards 620 and above here on the semis. The semis are building up higher lows with the SPY at all-time highs. We can expect a bounce on some of the semiconductors coming into next week, at least right off the bat. If we take a look at the IWM here, this one is very bullish here as well. Higher lows are being built. We're approaching our all-time highs. Let's look for that all-time highs break for a continuation on the IWM. And with that being said, let's take a look at some tech names starting off with Tesla. Of course, we had a gap down with earnings a couple of weeks ago. Now for Tesla, the key levels that we're gonna have marked out is 340 moving forward. Higher timeframe break back above. We can see this mean reversion, rejection. We're gonna see a push right back towards the downside. Key levels on the lower timeframes that I have marked out is going to be our 327. Let me just get rid of a couple levels here. 327 is gonna be key. If we can maintain above that 327, which we're trying to do here on Friday, we can see that push back up and towards that 330, along with our last week's highs. If we, of course, break underneath, then we're just gonna see a mean reversion. AMD had earnings last week. What would I like to see here on AMD? If we're looking at this one, a lot more consolidation within the past few months here on AMD. If we do wanna see any sort of continuation higher, now we wanna see the break back above this 500 key site. You can see a couple of rejections here on Friday. And last week, if we wanna see some upside above 500, right now, if we come down in towards that earnings low, we wanna see a bounce play. Of course, underneath that earnings low, we can definitely see a lot more downside. What are some of the names that I like coming into next week? Number one, NVIDIA. This one, really strong weekly candle close back above that 210. Very bullish. Broke above this consolidation that we've had. Now we wanna see a pushup in towards that all-time highs. So NVIDIA, we're gonna be looking for that pushup in towards that all-time highs coming into the next couple of weeks. Key technical levels that we have marked out is just gonna be that previous day highs. So moving forward, we're gonna have our 222 marked out. So far, buyers are stepping in. And then, of course, we're gonna have our previous day highs above our previous day highs continuation towards the upside. So we'll keep an eye out on NVIDIA moving forward. As for Apple, right back in towards our 315. If you wanna see some upside, back above that 315 for continuation is in play. We have this big daily gap. As for Google, we had some news last week. So we had a nice push towards upside. But you can see a pretty big rejection. We had some news on Google, which ended up dropping towards the lows here on Wednesday. Right now, for Google, what we're gonna have marked out is really the area that we broke out from, plus that earnings high. So for Google, reclaim back above, or we can see now the balance play all the way back at our 350. Names that are strong here, Microsoft, really strong weekly candle close after that earnings reversal that we had. Now for Microsoft, we have room all the way back up in towards our all-time highs. Moving forward here, the structure has broken back above. Any sort of high or low, we wanna see that push up in towards our all-time highs here on Microsoft. On the lower timeframes, we're just gonna maintain a bullish bias as long as you can maintain above these higher lows here on the hourly timeframe, preferably above our 500 now, continuation towards the highs. Meta, one of my favorite charts here as well, bouncing off the lows, double bottom so far. Now we're forming this daily flag pattern. Let's keep an eye out on Meta above our 600 key site coming into next week. If we can break above hold, we have room up in towards 6.10 and above. Amazon, another one that's one of my favorites, above our all-time highs. Let's keep an eye out on this daily flag pattern forming here on Meta. Sorry, this is on Amazon. We also have this hourly flag forming here as well, above our previous day highs, continuation back towards our all-time highs. Netflix, consolidation, we need it above this 75. And then for SpaceX, we did see some buyers step in after that first initial lockup period that we had. So we did have some shares that were unlocked on Friday. And you can see we're actually bouncing very nicely. The IPO price is 135 here on SpaceX. We had a very nice mean reversion bounce. You could even see a retracement back up in towards 150 here. So for SpaceX, the key technical levels that we have marked out is just going to be that earnings high. That's going to be key moving forward. We can drag this down. For SpaceX coming to next week, we'll keep an eye out on a bounce play for continuation back up and towards 135 and above, right? The hold of that 130 is going to be key. What are some other names that I do like? AVGO, massive gap back towards the upside here. The weekly timeframe, pretty strong weekly candle close as well, back above this period of consolidation. On the daily chart, we have a lot of room back towards the highs. AVGO, massive gap back up and towards that 480. Above that 430 hold, continuation towards the upside. Other names that I like, Palantir, recently broke outside of this key level of resistance. Let's keep an eye on Palantir, continuation towards the upside. Really, next targets that I have on the weekly timeframe is actually all the way back up in towards that all-time highs here. So Palantir, fairly bullish after its last week candle close. Let's keep an eye on that retest hold for continuation towards the upside. MU, in a lot of these semiconductors, have been a little bit weaker. Key levels that will have marked out 2, or sorry, 920 hold above for continuation. We'll keep an eye out on the breakback above that 920. SNDK had earnings. We'll just keep an eye on that earnings low. INTC, I do like this one quite a bit. Key level that we have is going to be this earnings high. Right here, very key. If you can break back above, there's a lot of room back towards the upside here on INTC. So keep an eye out on the break above our 102 hold above. We have this earnings reversal back up and towards our 112. MBIS, MRVL, MRVL looks good here. The flat top that's kind of forming on this hourly time frame. Keep an eye on that break above 220 for continuation. And of course, there's a lot of other names that are setting up here as well. My main watches are going to be Palantir, NVIDIA, and a couple of the MEG. Seven names, Amazon. I do like Microsoft here. So those are the names we're going to focus on coming into next week. As I mentioned, there's a lot of things to kind of keep an eye out for. A lot of nice opportunities in the markets as well. So with that being said, I'll keep you guys updated in the pre-market preps every single morning at 8 a.m. Eastern Standard Time on my main channel. With that being said, I hope you guys enjoyed this. If you did, appreciate it if you guys drop a like and sub. And I'll see you guys next week for a brand new video. Take care, everyone. Peace.